Trent Macdonald CFO LinkedIn comment “There is a common misconception that HEXO dilutes its shareholders more than other large Canadian Licensed Producers. The reality is that HEXO has deployed approximately 2.1B of capital since inception, (including the most recent capital raise), while, according to most recent public filings, Tilray has deployed $5.9B, Aurora $6.8B and Canopy $10.1B, meaning HEXO has diluted the least. More importantly, however, is how each of these respective LP’s used the capital. HEXO, as the current market share leader in Canada, (according to Stifel’s most recent July 2021 Headset data report, which is used by all the LP’s I’ve mentioned), has deployed approximately $14.2M of capital for each 10 basis points of current Canadian market share. Comparatively, Tilray has used $45.9M, Aurora $164.9M and Canopy $85.5M. So not only is HEXO the least dilutive, we have made the best use of our Investor’s capital in relation to current Canadian market share, and it’s not even close.” -Trent Macdonald, CFO